3 ms·
> The primary driver of economic health in the US is frequency of domestic spending. It goes in self fulfilling cycles in that when the economy is healthy peopl
by refurb 2y ago
> The primary driver of economic health in the US is frequency of domestic spending. It goes in self fulfilling cycles in that when the economy is healthy people make more money and thus can spend money more frequently.
Sure, but money doesn't grow on trees.
If you're paying UBI, that money comes from somewhere - tax, debt, etc. That has a negative economic impact in and of itself.
There is no free lunch.
- 6510 2y ago> Sure, but money doesn't grow on trees. You know, it is funny that this slogan is only ever used in this context. For all other things no one ever talks about where money comes from. It's created out of thin air, mostly by private corporations. It is no more than a unit of accounting. You can create as much of it as you want as long as something of equal value is created. This may be for example a signature for a lone if one is credit worthy or on the larger scale a disaster or war effort. If quality of life or employability is worth something to a nation they would want to spend on it. We could also ask where the tax is coming from if people cant figure out how to find or hold a job.
- dredmorbius 2y agoMoney grows in central bank ledgers. There is no intrinsic limit to the money supply. There is intrinsic limit to what that money supply can buy. But that's an entirely different question. And adjustments to the money supply will have effective redistributive effects depending on where and to whom that new money is distributed. Which tends to prompt "money doesn't grow on trees" commentary from those adversely affected or politically aligned with those, whether for or against their own interests. See generally: MMT.
- refurb 2y ago> See generally: MMT. MMT was proven false by the run up in inflation since Covid.